2017-11-15T11:58:26-06:00 2017-06-30 420714325 RSM US LLP 7351 OFFICE PARK PL MELBOURNE FL 32940 990 2016-07-01 593649371 STEP UP FOR STUDENTS INC STEP 9043522246 4655 SALISBURY ROAD NO 400 JACKSONVILLE FL 32256 JOE PFOUNTZ CFO 9043522246 2017-11-15 1 THERESA A BURDINE CPA P00362629 3217516200 108.171.132.189 2017-11-15 11:12:30 ES P 6AC44CFA5DF0491D18131A5982D300079184BF19 6AC44CFA5DF0491D18131A5982D300079184BF19 2016 2021-01-29 14:40:06Z JOE PFOUNTZ 4655 SALISBURY ROAD NO 400 JACKSONVILLE FL 32256 533642917 0 X WWW.STEPUPFORSTUDENTS.ORG X 2000 FL STEP UP FOR STUDENTS EMPOWERS PARENTS TO PURSUE AND ENGAGE IN THE MOST APPROPRIATE LEARNING OPTIONS FOR THEIR CHILDREN, WITH AN EMPHASIS ON FAMILIES WHO LACK THE FINANCIAL RESOURCES TO ACCESS THESE OPTIONS. BY PURSUING THIS MISSION, WE HELP PUBLIC EDUCATION FULFILL THE PROMISE OF EQUAL OPPORTUNITY. 7 7 224 282 0 0 521372137 533245078 136114 0 -8472 388179 7046 339 521506825 533633596 429479201 548456006 0 0 11092449 14110118 0 0 2139326 5076130 5466829 445647780 568032953 75859045 -34399357 543244522 518592306 28340712 37945946 514903810 480646360 X STEP UP FOR STUDENTS EMPOWERS PARENTS TO PURSUE AND ENGAGE IN THE MOST APPROPRIATE LEARNING OPTIONS FOR THEIR CHILDREN, WITH AN EMPHASIS ON FAMILIES WHO LACK THE FINANCIAL RESOURCES TO ACCESS THESE OPTIONS. BY PURSUING THIS MISSION, WE HELP PUBLIC EDUCATION FULFILL THE PROMISE OF EQUAL OPPORTUNITY. 0 0 541915225 536440936 FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM:THIS PAST SCHOOL YEAR, 97,900 UNDERPRIVILEGED STUDENTS ATTENDED 1,733 PRIVATE SCHOOLS ON A STEP UP FOR STUDENTS SCHOLARSHIP, AND FOR THE 2017-18 SCHOOL YEAR, WE ANTICIPATE SERVING ROUGHLY 104,000 STUDENTS. THE SCHOLARSHIP PROGRAM WAS CREATED TO HELP ALLEVIATE THE ENORMOUS EDUCATIONAL CHALLENGES FACED BY CHILDREN WHO LIVE IN POVERTY. THE SCHOLARSHIP GIVES PARENTS WITH LIMITED FINANCIAL MEANS THE FREEDOM TO CHOOSE THE SCHOOL THAT BEST MEETS THEIR CHILDREN'S LEARNING NEEDS FROM KINDERGARTEN THROUGH 12TH GRADE. IT IS THE LARGEST SCHOLARSHIP PROGRAM OF THIS NATURE IN THE UNITED STATES.FOR THE 2016-17 SCHOOL YEAR, APPROVED STUDENTS COULD CHOOSE BETWEEN SCHOLARSHIPS WORTH UP TO $5,866 FOR PRIVATE SCHOOL TUITION AND FEES OR UP TO $500 IN TRANSPORTATION COSTS TO ATTEND AN OUT-OF-DISTRICT PUBLIC SCHOOL. SINCE ITS CREATION, THE FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM HAS AWARDED 579,115 SCHOLARSHIPS. FOR 2016-17, THE AVERAGE INCOME FOR PARTICIPANTS WAS 4.4% ABOVE THE FEDERAL POVERTY GUIDELINES, AND 55% OF THE STUDENTS WERE FROM SINGLE-PARENT HOUSEHOLDS.STANDARDIZED TEST SCORES RELEASED IN AUGUST 2016 SHOWED THAT SCHOLARSHIP STUDENTS WERE ACHIEVING THE SAME GAINS IN READING AND MATH AS STUDENTS OF ALL INCOME LEVELS NATIONALLY. BY LAW, SCHOLARSHIP RECIPIENTS EVERY YEAR MUST TAKE A NATIONALLY RECOGNIZED NORM-REFERENCED TEST APPROVED BY THE STATE AND MOST TAKE THE WELL-REGARDED STANFORD ACHIEVEMENT TEST. THE RESULTS REPORTED IN 2016 TRACKED CLOSELY WITH RESULTS IN PRIOR YEARS AND THE RESEARCHER ISSUED TWO KEY FINDINGS:-STUDENTS WHO CHOSE THE SCHOLARSHIP WERE AMONG THE POOREST AND LOWEST-PERFORMING STUDENTS FROM THE PUBLIC SCHOOLS THEY LEFT BEHIND.-THESE SAME STUDENTS ACHIEVED GAINS IN READING AND MATH THAT WERE THE SAME AS ALL STUDENTS NATIONALLY, REGARDLESS OF INCOME LEVEL.FOR THE 12TH TIME, STEP UP FOR STUDENTS WAS AWARDED THE COVETED FOUR-STAR RATING BY CHARITY NAVIGATOR AND SCORED A PERFECT 100.0 ON THE NAVIGATOR'S SCALE OF FINANCIAL ACCOUNTABILITY AND TRANSPARENCY. IN OTHER PUBLISHED NATIONAL RANKINGS OF NONPROFITS, STEP UP HAS BEEN RANKED 24TH BY FORBES AND 48TH BY THE CHRONICLE OF PHILANTHROPY. 12492497 12015070 THE ALABAMA OPPORTUNITY SCHOLARSHIP FUND (ALOSF) IS A SCHOLARSHIP GRANTING ORGANIZATION FORMED TO IMPLEMENT THE ALABAMA ACOUNTABILITY ACT. ALOSF AWARDS SCHOLARSHIPS TO ELIGIBLE LOW INCOME STUDENTS WITH PRIORITY GIVEN TO CHILDREN WHO ARE ZONED TO ATTEND A FAILING PUBLIC SCHOOL. THE SCHOLARSHIPS PAY FOR PRIVATE SCHOOL TUITION OR TRANSFER FEES TO A NON-FAILING PUBLIC SCHOOL. THE FIRST SCHOLARSHIPS WERE GRANTED FOR THE SEMESTER STARTING JANUARY 2014. ALOSF HAS AWARDED OVER 7,600 SCHOLARSHIPS OVER 3 1/2 YEARS REPRESENTING 45 OF THE 67 COUNTIES IN ALABAMA. AN ADDITIONAL 18,000 STUDENTS APPLIED BUT WERE NOT AWARDED. THE SCHOLARSHIPS ARE FUNDED BY DONATIONS OF INCOME TAX LIABILITY FROM INDIVIDUALS AND CORPORATIONS WHO RECEIVE AN ALABAMA STATE INCOME TAX CREDIT. 2678786 THE GARDINER SCHOLARSHIP ACCOUNT PROGRAM:IN 2016-17, STEP UP ALSO ADMINISTERED A STATEWIDE SCHOLARSHIP AVAILABLE TO SPECIAL-NEEDS STUDENTS WITH ONE OF TEN SPECIFIC DISABILITIES: AUTISM, CEREBRAL PALSY, DOWN SYNDROME, PHELAN-MCDERMID SYNDROME, PRADER-WILLI SYNDROME, SPINA BIFIDA, WILLIAMS SYNDROME, INTELLECTUAL DISABILITY (SEVERE COGNITIVE IMPAIRMENT), MUSCULAR DYSTROPHY, OR "HIGH RISK" CHILDREN IN KINDERGARTEN. FOR THE 2016-17 SCHOOL YEAR, THE PROGRAM SERVED 7,598 STUDENTS WHO RECEIVED SCHOLARSHIPS WORTH AN AVERAGE OF $10,400 EACH. THE PROGRAM EMPOWERS FAMILIES TO CHOOSE THE EDUCATIONAL SERVICES THAT BEST MEET THE NEEDS OF THEIR STUDENT, AND THE MONEY CAN BE FOR SCHOOLS, THERAPISTS, SPECIALISTS, CURRICULUM, TECHNOLOGY-EVEN A COLLEGE SAVINGS ACCOUNT. 5112954 RESEARCH ON STUDENT OUTCOMES:EACH TAX CREDIT SCHOLARSHIP IS INTENDED TO PROVIDE A LOW-INCOME OR WORKING-CLASS STUDENT IN FLORIDA WITH A VIABLE LEARNING OPTION THAT CAN MAKE A DIFFERENCE IN HIS OR HER EDUCATIONAL LIFE. TOWARD THAT OBJECTIVE, STEP UP IS BUILDING TOOLS TO ASSESS ACADEMIC PROGRESS IN A ROBUST WAY. THE STATE ALREADY COLLECTS STANDARDIZED TEST SCORES EVERY YEAR FOR ALL STUDENTS IN GRADES 3-10 AND IN ITS MOST RECENT REPORT DETERMINED THAT SCHOLARSHIP STUDENTS ACHIEVED THE SAME ACADEMIC GAINS IN READING AND MATH AS STUDENTS OF ALL INCOME LEVELS NATIONALLY. STEP UP IS GOING FURTHER. IT HAS COMPLETED THE FIRST STAGE OF A DATA WAREHOUSE THAT PULLS TOGETHER STUDENT ACADEMIC AND DEMOGRAPHIC INFORMATION ACROSS 15 YEARS. IN 2016-17, STEP UP POLICY ANALYSTS WORKED WITH A PRESTIGIOUS NATIONAL THINK TANK TO EVALUATE HOW MANY STUDENTS GRADUATED AND ATTENDED POSTSECONDARY SCHOOLS AND IS EXPECTING THAT STUDY TO BE RELEASED BY THE END OF 2017. 5112954 562199462 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 161 0 1 224 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL AR GA CT AL X X JOE PFOUNTZ 9043522246 4655 SALISBURY RD SUITE 400 JACKSONVILLE FL 32256 JOHN KIRTLEY CHAIRMAN, SUFS/DIRECTOR, A 2.00 X 0 0 0 ALISON HERTOG DIRECTOR, SUFS 2.00 X 0 0 0 ALFRED AL LAWSON DIRECTOR, SUFS 2.00 X 0 0 0 RICHARD OUTRAM DIRECTOR, SUFS 2.00 X 0 0 0 PAUL SHERMAN DIRECTOR, SUFS 2.00 X 0 0 0 CURTIS STOKES DIRECTOR, SUFS 2.00 X 0 0 0 TERRY JOVE DIRECTOR, SUFS 2.00 X 0 0 0 GOVERNOR BOB RILEY CHARIMAN, ALOSF 2.00 X 0 0 0 THOMAS M LEE CHAIRMAN, ALOSF 2.00 X 0 0 0 REVEREND HK MATTHEWS DIRECTOR, ALOSF 2.00 X 0 0 0 JOHN H COOPER DIRECTOR, ALOSF 2.00 X 0 0 0 CHAD FINCHER DIRECTOR, ALOSF 2.00 X 0 0 0 DOUG TUTHILL PRESIDENT, SUFS 40.00 X 263061 0 30891 ANNE WHITE COO, SUFS/DIRECTOR, ALOSF 40.00 X 159064 0 19895 JOE PFOUNTZ TREAS & CFO, SUFS/DIRECTOR 40.00 X 185863 0 20950 SCOTT MASSEY CIO, SUFS 40.00 X 149709 0 28118 ALISSA RANDALL VP MARKETING & EVENTS, SUF 40.00 X 149397 0 13836 JONATHAN EAST VP POLICY & PUBLIC AFFAIRS 40.00 X 143770 0 7503 CAROL THOMAS VP STUDENT LEARNING 40.00 X 132759 0 20373 GINA LYNCH VP OPERATIONS 40.00 X 128773 0 12520 1312396 0 154086 15 0 1 0 EPIC SOFTWARE CORPORATION 1979 MILKY WAY VERONA WI 53593 SOFTWARE SERVICES 195583 MEENAN PA 300 S DUVAL ST STE 410 TALLAHASSEE FL 32301 LEGAL SERVICES 120002 RSM US LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 ACCOUNTING SERVICES 117195 CUTHBERTSON & ASSOCIATES 9802 BAYMEADOWS RD STE 12 200 JACKSONVILLE FL 32256 CONSULTING SERVICES 108185 4 533245078 533245078 397500 397500 9321 -9321 -9321 -9321 OTHER INCOME 900099 339 339 339 533633596 0 0 388518 X 548456006 548456006 679724 679724 10668271 7954846 1500053 1213372 328200 196038 88900 43262 1089010 708574 272734 107702 1344913 1065468 153978 125467 147539 83072 61177 3290 117195 117195 66809 66809 1057489 901687 102417 53385 361780 310601 17997 33182 560386 434161 68703 57522 777444 562254 142427 72763 602975 367017 120991 114967 257002 191089 42087 23826 263040 193191 44065 25784 OTHER COSTS 498426 240215 72382 185829 BANK FEES 240209 136617 103431 161 PRINTING AND POSTAGE 224101 119707 52030 52364 REPAIRS AND MAINTENANCE 222263 141939 53874 26450 70171 70171 568032953 562199462 3694165 2139326 49756813 41903759 225000 225000 464498513 436647533 980432 1592791 490048 579212 2965136 1552144 563536 1412992 26730180 36231019 543244522 518592306 1610532 1714927 26730180 36231019 28340712 37945946 X 3924578 5110194 510979232 475536166 514903810 480646360 543244522 518592306 -34399357 141907 0 X X 0 1 X 1 0 X 310799794 332392878 456345377 521372137 533245078 2154155264 310799794 332392878 456345377 521372137 533245078 2154155264 850476828 1303678436 13048 12414 8223 90396 397500 521581 1518 12665 7046 339 21568 2154698413 1686768 0.60500 0.63470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10454 56355 66809 567966144 568032953 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 196409 55760 11942 66809 330920 250000 250000 250000 250000 1000000 1500000 47300 55760 8171 10454 121685 SCHEDULE C, PART II-A THE EXTERNAL AFFAIRS DIRECTOR AND POLICY DIRECTOR FOR STEP UP FOR STUDENTS PLAYED A PROMINENT ROLE IN THE LEGISLATIVE ADOPTION OF IMPROVEMENTS TO THE GARDINER SCHOLARSHIP AND TAX CREDIT SCHOLARSHIP PROGRAMS IN 2017, ADVISING LEGISLATIVE COMMITTEE STAFF AND LEGISLATORS ON DIFFERENT POINTS ON THE BILL. THESE LOBBYING EFFORTS ARE FINANCED BY PRIVATE FUNDRAISING AND NOT THROUGH EITHER THE DIRECT APPROPRIATION OR TAX-CREDITED CONTRIBUTIONS RECEIVED UNDER EACH PROGRAM. STAFFERS IN EXTERNAL AFFAIRS ALSO WORKED WITH GARDINER FAMILIES AND TAX CREDIT SCHOLARSHIP FAMILIES TO PROVIDE LEGISLATIVE TESTIMONY AND CONTACT LAWMAKERS TO EXPRESS THEIR SUPPORT OF THE BILL IN A LEGISLATIVE GRASSROOTS EFFORT. 0 26730180 70232134 60731295 36231019 1 X 2906511 1523264 1383247 58625 28880 29745 1412992 FUNDS HELD IN TRUST FOR STUDENTS 36231019 36231019 X PART IV, LINE 2B: IN JUNE 2014, LEGISLATION CREATING SCHOLARSHIPS FOR SPECIAL NEEDS CHILDREN WAS SIGNED INTO LAW IN FLORIDA. A GARDINER SCHOLARSHIP ACCOUNT IS ESTABLISHED FOR EACH CHILD THAT IS AWARDED A SPECIAL NEEDS SCHOLARSHIP. PARENTS USE THIS MONEY TO PERSONALIZE THE EDUCATION OF THEIR CHILDREN WITH UNIQUE ABILITIES BY DIRECTING MONEY TOWARDS A COMBINATION OF PROGRAMS AND STATE APPROVED PROVIDERS. THESE INCLUDE SCHOOLS, THERAPISTS, SPECIALISTS, CIRRICULUM AND TECHNOLOGY AND COLLEGE SAVINGS ACCOUNTS. DURING THE YEARS ENDED JUNE 30, 2017 AND 2016, STEP UP FOR STUDENTS DISTRIBUTED APPROXIMATELY $58.7 MILLION AND $29.1 MILLION, LEAVING A BALANCE OF APPROXIMATELY $36.2 MILLION AND $26.7 MILLION RESPECTIVELY, WHICH IS RECORDED IN THE ACCOMPANYING CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS BOTH AN ASSET AND A LIABILITY. STEP UP FOR STUDENTS IS ACTING AS AN AGENT FOR THIS PROGRAM, THEREFORE, THERE ARE NO REVENUES AND EXPENSES REPORTED ON THE ACCOMPANYING STATEMENT OF ACTIVITIES FOR SCHOLARSHIP FUNDS RECEIVED AND DISTRIBUTED FROM THE STATE OF FLORIDA. PART X, LINE 2: STEP UP FOR STUDENTS IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FROM STATE INCOME TAXES UNDER SIMILAR PROVISIONS OF THE FLORIDA STATUTES. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. STEP UP FOR STUDENTS HAS MADE AN ELECTION UNDER SECTION 501(H) OF THE INTERNAL REVENUE CODE, WHICH PERMITS CERTAIN ELIGIBLE 501(C)(3) ORGANIZATIONS TO MAKE LIMITED EXPENDITURES TO INFLUENCE LEGISLATION. THESE EXPENDITURES ARE FINANCED BY PRIVATE FUNDRAISING AND NOT THROUGH EITHER THE DIRECT APPROPRIATION OR TAX-CREDITED CONTRIBUTIONS RECEIVED UNDER EACH PROGRAM, INCLUDING THE 3% ADMINISTRATIVE ALLOWANCE EACH PROGRAM RECEIVES. STEP UP FOR STUDENTS WOULD BE SUBJECT TO AN EXCISE TAX IF IT SPENDS MORE THAT THE AMOUNTS PERMITTED. SUCH LIMITS HAVE NOT BEEN EXCEEDED. THE ALABAMA OPPORTUNITY SCHOLARSHIP FUND IS A SINGLE-MEMBER LIMITED LIABILITY COMPANY (LLC) WHICH IS WHOLLY-OWNED BY STEP UP FOR STUDENTS. STEP UP FOR STUDENTS IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS A WHOLLY-OWNED LLC, THE ALABAMA OPPORTUNITY SCHOLARSHIP FUND IS A DISREGARDED ENTITY FOR FEDERAL AND STATE INCOME TAX PURPOSES AND THEREFORE, REPORT ALL FEDERAL AND STATE TAX INFORMATION THROUGH ITS PARENT, STEP UP FOR STUDENTS. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. STEP UP FOR STUDENTS FOLLOWS ACCOUNTING STANDARDS RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT ASSESSED WHETHER THERE WERE ANY UNCERTAIN TAX POSITIONS WHICH MAY GIVE RISE TO INCOME TAX LIABILITIES AND DETERMINED THAT THERE WERE NO SUCH MATTERS REQUIRING RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. STEP UP FOR STUDENTS FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. GENERALLY, STEP UP FOR STUDENTS IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2014. 1 TAX CREDIT SCHOLARSHIP PROGRAM 97900 548456006 PART I, LINE 2: STEP UP FOR STUDENTS RECEIVES GRANTS TO FUND PROJECTS AND INITIATIVES TO EMPOWER THE FAMILIES OF OUR STUDENTS. THE GRANT EXPENSES ARE TRACKED BY PROJECT CODE FOR EASE OF REPORTING TO OUR GRANTORS, IF APPLICABLE. 1 X X X X X 1 0 0 0 0 0 0 0 0 DOUG TUTHILL PRESIDENT, SUFS 263061 0 0 0 0 0 10652 0 20239 0 293952 0 0 0 ANNE WHITE COO, SUFS/DIRECTOR, ALOSF 159064 0 0 0 0 0 8115 0 11780 0 178959 0 0 0 JOE PFOUNTZ TREAS & CFO, SUFS/DIRECTOR 185863 0 0 0 0 0 7492 0 13458 0 206813 0 0 0 SCOTT MASSEY CIO, SUFS 149709 0 0 0 0 0 7655 0 20463 0 177827 0 0 0 ALISSA RANDALL VP MARKETING & EVENTS, SUF 149397 0 0 0 0 0 7412 0 6424 0 163233 0 0 0 JONATHAN EAST VP POLICY & PUBLIC AFFAIRS 143770 0 0 0 0 0 7043 0 460 0 151273 0 0 0 CAROL THOMAS VP STUDENT LEARNING 132759 0 0 0 0 0 6733 0 13640 0 153132 0 0 0 FORM 990, PART I A FIRST-OF-ITS-KIND STUDY ON THE LONG-TERM EFFECTS OF THE FLORIDA TAX CREDIT SCHOLARSHIP PROGRAM FINDS THAT SCHOLARSHIP STUDENTS ARE MORE LIKELY THAN THEIR PUBLIC SCHOOL PEERS TO ATTEND COLLEGE AND EARN A DEGREE. THE REPORT BY RESEARCHERS AT THE URBAN INSTITUTE, RELEASED IN 2017, FOUND THAT FLORIDA TAX CREDIT SCHOLARSHIP STUDENTS THAT PARTICIPATED IN THE PROGRAM FOR FOUR OR MORE YEARS ARE UP TO 43 PERCENT MORE LIKELY TO ATTEND FLORIDA PUBLIC COLLEGE AND UP TO 29 PERCENT MORE LIKELY TO EARN AN ASSOCIATES DEGREE. THESE ARE THE MOST SIGNIFICANT ACADEMIC FINDINGS IN THE PROGRAM'S 16-YEAR HISTORY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY THE FUND'S INDEPENDENT AUDITORS AFTER BEING REVIEWED BY MANAGEMENT, THE FULL FORM 990 INFORMATIONAL RETURN IS PROV1DED TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT. THE BOARD OF DIRECTORS IS ALSO AFFORDED THE OPPORTUNITY TO ASK QUESTIONS WITH RESPECT TO THE FORM 990 BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C STEP UP FOR STUDENTS ENSURES THAT THE CONFLICT OF INTEREST POLICY IS ADHERED TO WITH THE FOLLOWING ACTIVITIES 1) REGULAR EDUCATION WITH THE BOARD OF DIRECTORS, OFFICERS AND KEY STAFF. EACH YEAR, THE POLICY IS REVIEWED WITH THE BOARD OF DIRECTORS AND THE EXECUTIVE TEAM. EACH ACKNOWLEDGE THEIR UNDERSTANDING AND COMPLIANCE BY SIGNING AN ANNUAL COMPLIANCE STATEMENT. 2) THE CFO REVIEWS EACH CONTRACT THE ORGANIZATION ENTERS. 3) FINANCE STAFF AND THE PRESIDENT REVIEW ALL PAYMENTS AS THEY ARE MADE FOR POSSIBLE CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS COMPARABLE COMPENSATION AND BENEFITS DATA OF SIMILAR ORGANIZATIONS. DURING FISCAL YEAR 2011, AN INDEPENDENT COMPENSATION CONSULTING FIRM CONDUCTED A FULL COMPARATIVE STUDY FOR EACH INDIVIDUAL EXECUTIVE POSITION AND ALL NON-EXECUTIVE JOB GRADES. THE COMMITTEE USES THIS INFORMATION, COMBINED WITH THE PERFORMANCE OF THE PRESIDENT, TO RECOMMEND THE PRESIDENT'S COMPENSATION PACKAGE FOR APPROVAL OF THE FULL BOARD. THE FULL BOARD APPROVES THE PACKAGE. FORM 990, PART VI, SECTION C, LINE 19 STEP UP FOR STUDENTS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE, WWW.STEPUPFORSTUDENTS.ORG. PRINTED COPIES ARE AVAILABLE BY REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN IRC SECTION 6104(D). FORM 990, PART IX, LINE 24E UNCOLLECTIBLE SCHOOL RECEIVABLES: PROGRAM SERVICE EXPENSES 70,171. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 70,171. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. THE ALABAMA OPPORTUNITY SCHOLARSHIP FUND 2101 MAGNOLIA AVE S STE 425 BIRMINGHAM AL 35205 493813722 SCHOLARSHIP FUNDING AL 9366645 2727779 STEP UP FOR STUDENTS